Published on 5/17/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.29 million trigger autocallables tied to MSCI EM, Russell
By Marisa Wong
Morgantown, W.Va., May 17 – GS Finance Corp. priced $4.29 million of trigger autocallable contingent yield notes due May 1, 2029 linked to the MSCI Emerging Markets index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 6.6% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related quarterly observation date.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI Emerging Markets, Russell 2000
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| Amount: | $4,291,520
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| Maturity: | May 1, 2029
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| Coupon: | 6.6%, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after one year
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 1,078.06 for EM and 1,591.816 for Russell
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| Coupon barriers: | 754.642 for EM and 1,114.271 for Russell, 70% of initial levels
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| Downside thresholds: | 539.030 for EM and 795.908 for Russell, 50% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 30
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| Underwriter: | Goldman Sachs & Co. with UBS Financial Services Inc. as selling agent
|
| Fees: | 3.95%
|
| Cusip: | 36257D568
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